Wednesday, August 05, 2009

The Lancaster Atrium Condotel development of Pacific Concord Properties Inc along Shaw Boulevard, Metro Manila is all set to be completed from December 2011 with construction now in full swing. Currently on the 8th level of the 42 storey structure, it is expected to be ‘topped’ off by mid 2010. Updated construction photos can be seen on the Gallery pages at www.lancastersuites.com

Beth Collingz, PLC International Marketing Director, lead marketing partners of Pacific Concord Properties for the Lancaster Brand of Condotels in the Philippines, said despite the financial crisis in many parts of the World, the company's latest sale of Condotel units drew not only overseas Filipinos but significant numbers of international buyers from Europe, Australia, Canada and United States. Units in their latest project, Lancaster – The Atrium at Shaw Boulevard, Metro Manila, range from studio units to three-bedroom penthouse suites with full kitchens and are 90% sold.

Construction is well on the way on the Atrium project, excavations, foundations, sub basements, 5-levels of basement parking, lower and upper ground floors are already in place. Construction of the 5-Level Podium and Swimming Pool deck is nearly completed whilst the buildings’ superstructure is currently on the 8th level of the 42 storey structure and will be topped off next year for completion from December 2011. Lancaster – The Atrium is the second mixed use Condotel tower developed by Pacific Concord Properties located in Shaw Boulevard, Metro Manila, adjacent to the completed Lancaster Suites.

Owners of Lancaster Condotel units can stay in their units permanently and enjoy hotel style living 365 days a year or can enroll in the Condo Hotel rental pool and share rental income. Lancaster Atrium Manila together with the completed Lancaster Suites Manila, one of the hottest real estate investments in the Philippines, will be the hub for Lancaster Condotels. The 42-story Lancaster Suites Manila, features studio, one-bedroom and two-bedroom Condotel units, as well as penthouse suites. The units are available for sale or daily, weekly or monthly rental. The Lancaster Atrium Condotel development will include the Lancaster Mini Mall with grocery and convenience stores, retail center, restaurants, business center, a private exclusive members only Businessman’s Club and spa on the site, she said. Current selling prices range around $200 per square foot on 12 year payment plans.

The Lancaster Atrium Manila will provide unit owners with premier residential condo units with option of enrolling their units in the Lancaster Condotel Rental Pool which makes the Lancaster Brand a great Investment for overseas investors whom visit Manila for Vacations or Business as they can earn Rental Incomes [at current purchase levels] of some 12-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management.

Lancaster Atrium Condotel Suites may be purchased on a 12 year payment terms that provides for 40% of the purchase price of the unit to be paid over 4 years without interest and the remaining 60% over 8 years which can be partially or fully offset from income on the Condotel rentals. Units may also be purchased on a 5 Year No Interest Charge Term of payment. Turnover of units Lancaster Atrium will be from December 2011.

All payments will be made to Lancaster Atrium Banco de Oro Unicapital Escrow Trust Account. It is anticipated; given the track record on sales of Tower I Units that property appreciation for buyers of Atrium Units will be at least 60-70% on turnover of units.

The 12 year payment plan is open to all buyers of Lancaster – The Atrium Premiere Executive Studio Suites whether local or foreign, is so easy to process and provides for Premiere Executive Studio [Semi Fitted] Condotel Suites to be purchased an initial Reservation fee of only -Php-25,000.00 for a 32.50sqm [350sqft] Suite [Contract Price -Php-3,776,760.00 including Sales Tax] then 48 consecutive monthly payments of only -Php-32,046.28 [No Interest for the first 4 years] and thereafter 96 consecutive monthly payments of -Pph-43,658.09 to complete the balance of the purchase price. Although there is a Lock-in Period of eight (8) years and other conditions require monthly installments shall be covered by post dated checks – this new payment plan proves very popular with overseas Filipinos looking to purchase investment property back home in the Philippines

Premiere Executive Studio Suites may be purchased with an initial -Pph-25,000.00 Reservation and Balance Payable without interest over 60 consecutive equal monthly payments -Pph-62,529.33. Alternatively Save -Pph-225,105.80 by making a Reservation -Pph-25,000.00 then within 30 days a 30% Net Down Payment of -Pph-900,422.40 and Balance payable without interest over 60 consecutive equal monthly payments of -Pph-43,770.53.

Premiere Executive Studio Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans. Pay -Pph-25,000.00 initial Reservation for a 32.50sqm [350sqft] Premiere Executive Studio Suite [Contract Price -Pph-3,776,760.00] then 60 equal consecutive monthly payments of only -Pph-52,368.32 with the balance of -Pph-1,238,080.80 either payable in cash on turnover or to be financed over another 60 months payment plan.

The 12 year payment plan is open to all buyers of Lancaster – The Atrium Premiere Executive Studio Suites whether local or foreign, is so easy to process and provides for initial Reservation fee of only -Php-25,000.00 for a 32.50sqm [350sqft] Suite [Contract Price -Php-3,776,760.00 including Sales Tax] then 48 consecutive monthly payments of only -Php-32,046.28 [No Interest for the first 4 years] and thereafter 96 consecutive monthly payments of -Pph-43,658.09 to complete the balance of the purchase price.